News Corp. announced a net loss of $6.4 billion in the final quarter of the year, the company's second fiscal quarter, as it wrote down the value of its TV operations, newspapers and information services to the tune of $8.4 billion.

Commenting on the results company Chairman and CEO, Rupert Murdoch, said the results were a “direct reflection of the grim economic climate.” He said the downturn had been more severe than expected and would likely last longer than predicted. The company would continue its efforts to cut costs across the business.

In the television segment second quarter operating income was down $227 million to $18 million as a result of decreased earnings at Fox TV stations, Fox Broadcast Network, Star, the company’s Asian pay-TV company and MyNetworkTV. Operating income at the stations fell 44% against the year ago period. Local TV advertising in the quarter dropped an estimated 19% in the quarter. The company sold eight of its stations last year, however.

We all need to make it very clear to Boehner and the reps in congress and the senators that NO way will we the people of the US support any foreign invasions due to Netanyahu's warmongering. There should be no more foreign aid given to israel and AIPAC lobbyists should be persona non grata in the halls of congress . Only then will we have a chance to take control of our government back to the people of our own country.